Pizzorno Environnement: Revenue Up 4.9% in H1 2026
Pizzorno Environnement published its condensed half-yearly financial statements on September 10, 2026, approved by the Board of Directors on the same day.
The group's revenue growth is driven by its Cleaning activity, while the Treatment-Recovery activity declines. In parallel, the group reports an EBITDA margin of 16.6% and an order book of €1.0 billion composed of firm contracts.
Cleaning Up 7.1%, Treatment-Recovery Down 6.5%
In the first half of 2026, Pizzorno Environnement's consolidated revenue stands at €140.4 million, up 4.9% compared to the first half of 2025.
The Cleaning activity increased by 7.1% to €119.7 million, driven notably by contract renewals incorporating new services as well as price adjustments. The Treatment-Recovery activity achieved revenue of €20.7 million, down 6.5% over the first six months of the fiscal year, a change that primarily reflects a decrease in tonnage received.
In connection with the management of the WtE facility in Toulon, the Zephire activity recorded revenue of €17.7 million as of June 30, 2026. This company, held at 49% by the group, is accounted for using the equity method and remains without impact on consolidated revenue.
EBITDA of €23.4 Million and Net Profit Attributable to the Group of €4.1 Million
In the first half of 2026, Earnings Before Interest, Tax, Depreciation and Amortization (EBITDA) reached €23.4 million, representing a margin of 16.6%. Current operating income amounts to €5.4 million for the half-year, bringing the current operating margin to 3.8%.
The cost of net financial debt as well as other financial income and expenses remain immaterial as of June 30, 2026. After accounting for a tax charge of €1.3 million, net profit attributable to the group stands at €4.1 million.
Comparison with the first half of 2025 must take into account a specific item from that fiscal year: the group had concluded an agreement protocol with the Kingdom of Morocco relating to the settlement of existing receivables, a transaction that generated an overall pre-tax impact of €12.8 million.
Cash Position of €99.5 Million and Order Book of €1.0 Billion
Cash flows from operating activities amount to €18.8 million in the first half of 2026, including a self-financing capacity of €22.8 million after net financial debt cost and tax.
As of end June 2026, cash and investments in financial assets stand at €99.5 million, compared to €108.8 million at December 31, 2025. Net financial debt reaches €11 million as of June 30, 2026, taking into account investments in financial assets.
As of August 31, 2026, the order book, composed exclusively of firm contracts and including 49% of the Zephire activity, reaches €1.0 billion. The group, which employs nearly 2,500 people, indicates that it has this visibility on its future activity.
